Marketing Revision Part II Chapter 8 Product, Services, and Branding Strategies: Building Customer Value1) We define a ________ as anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need.A) private brandB) service variabilityC) serviceD) productE) service encounterAnswer: DDiff: 1Page Ref: 224AACSB: CommunicationSkill: ConceptObjective: 8-12) ________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.A) Line extensionsB) ServicesC) BrandsD) Consumer productsE) SupplementsAnswer: BDiff: 1Page Ref: 224AACSB: CommunicationSkill: ConceptObjective: 8-13) A product is a key element in the ________. At one extreme, it may consist of pure tangible goods or at the other extreme, pure services.A) market offeringB) brand equityC) brand extensionD) co-brandingE) value chainAnswer: ADiff: 1Page Ref: 224AACSB: CommunicationSkill: ConceptObjective: 8-14) To differentiate themselves, many companies are going beyond products and services, they are developing and delivering customer ________. A) qualityB) experiencesC) brandsD) product linesE) eventsAnswer: BDiff: 2Page Ref: 224AACSB: CommunicationSkill: ConceptObjective: 8-15) Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is the ________, which addresses the question, "What is the buyer really buying?"A) actual productB) augmented productC) core customer valueD) co-brandingE) exchangeAnswer: CDiff: 2Page Ref: 225AACSB: CommunicationSkill: ConceptObjective: 8-16) Developing a product or service involves defining the benefits tha...
